Gold kicked off the third quarter with rebound, but what should investors consider for the rest of the year? BullionVault vice president Miguel Perez-Santalla joins MoneyBeat.

This transcript has been automatically generated and may not be 100% accurate.

... ay ay mm mm ... the goal ... this morning we feel gold investor sentiment remained steady in June despite the steep climb in gold prices where that tells about when gold prices are going in the second half ... BullionVault vice president legal person Islands here on MoneyBeat ... to talk about it I mean it is to prevent their ... goal drought ... will forty seven right now I'm back at twelve hundred level ... and bounced off that a little bit ... but you guys to his monthly sentiment ... index is correct ... this is an index that tracks the sin among you will or buying physical gold ring right well what it is is really good to everyone ... who does a transaction on our exchange gifts of all ... so the action it will win and that happening is that the smaller buyers scheme in larger quantities even though we still and liquidations ... that means there was a lot of new renewed interest in the marketplace so we had no new buyers supporting the market ... this chart that sent along with it within a couple years too late for us like in twenty eleven when prices rise ... this sentiment in this and it's been kind of steady at these levels ... that the price fluctuates all while in the coal market will get excited about all calls Cobbold Honda ... I'd do investors Carnahan that seemed shaken it ... it doesn't appear that way ... for more from our point of view it from all we see there have been outflows and in the larger ... investor that ... may be liquidated ... when an institutional yesterday while we have we have a lawyer guzzlers with our big big money like it's a ... half a million million dollar fact we had one person selling the big drop in the first raw ... it sold six hundred thousand dollars worth of gold on the right pad ... yes ... so it's it's amazing how to go to the bigger people ... oh we have are ... our average customer is around fifteen to twenty thousand dollars in Dubai ... and we've had a lot of that coming and ... bullpen ... to ... get the ball gold prices are ... how hard is it for smaller investor ... to lead teams this market ... well I don't think that the they worry so much about it because that that when they're buying gold it's a part of their portfolio ... it's a protection against what the UN no gold is something that always gold was ... like a stock or ETF ... it's the tone by somebody else and its paper which has an underlying value it's not really go ... physical gold Aleutian fuel on the map and that you don't have anything to worry about ... to me by the gold they put in their portfolio in that set the alarm about ... the whole goes up but it's just like an insurance policy just one of my life insurance ... I'm hoping to drop dead you know ... that ... you're learning ... now reached about twelve hundred level and assuming that comes in these ... you know aam it bounced off battle of this isn't something of a support level ... in a steep drop you know it is as well as anybody where he does see prices going ... to say the second half of the why me personally I think gold's going higher I think organist see ... gold try to re gain some ground going to the fourteen hundred level but we're going to be trading between twelve hundred fourteen hundred points in time ... there's a lot of their sentiment out there ... the funds have gotten out of the ETF with Spain and ... even the futures markets on till they see a lot of action ... and some of ... the Negev what's right not necessarily negative news but news ... that will affect ... the let's see the value of the dollar ... value of other currencies ... like Europe is isn't that ... difficult situation in Moment The Korean see a lot of buying ... coming out of Europe yet ... with the rest of the so the macro picture to court the Fed ... and the stock market economy I mean you think those things and continue to ... the push and pull the wool market while yes they will continue to push and pull the gold market but I think we're closer to the bottom now than ever before ... where to new price level there some people are calling for nine hundred ... and nine hundreds a little to lower the eleven hundreds of them the way bottom ... and work until I'm fine coming into one ... it Miguel